Relating to compensation ratios in certain nonprofit corporations; prescribing an effective date.
Catchline/Summary:
Provides that contracting agency may not accept bid or proposal for public contract from covered entity for which ratio between highest amount of total compensation and lowest amount of total compensation that covered entity pays employees of covered entity exceeds 100 to 1. Provides that contracting agency may not accept bid or proposal for public contract from covered entity for which ratio between highest amount of total compensation and lowest amount of total compensation that covered entity pays employees of covered entity exceeds 100 to 1.
Requires contracting agency to disclose prohibition in advertisement or solicitation for public contract and provide in public contract that failure to comply subjects covered entity to termination of public contract and debarment or disqualification, as appropriate.
Becomes operative on January 1, 2022.
Takes effect on 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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HB 2886 House Committee On Business and Labor
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